Financial Planner

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Name
Cathy McDonald
Age
30
Job Title
Financial Planner
Job Description
Gathering information and discussions with clients to establish their financial goals, dreams and objectives, how they feel about investment, what their attitude and comfort levels are with investments, where they are now and where they want to be.
From the discussions with the client and the information they provide, I conduct a great deal of research and utilize my expertise in developing a financial plan that is appropriate to their needs and goals, that is flexible enough to be able to adjust to their changing lifestyle situations. Importantly, we also look at protecting their most valuable assets - themselves and their ability to continue to produce income. Protecting your future and your family is one of the most important aspects of financial planning. Once recommendations have been implemented, we regularly review their portfolios to make sure they continue to meet with their needs.
Hours (per week)
This varies but I normally work a minimum 40 hours (but usually work a lot more than that)
What was your first job?
Worked in a bank in their international department.
What inspired you to choose this particular career?
Worked in the banking industry for a number of years and had experienced all aspects of a branch life. Did lending for a while - hated it with a passion - so I decided to try the other side of the coin and I found my niche!
What qualifications/experience are needed to work in this field?
To be a financial planner, you need to undertake a lot of study. As a bare minimum, you need to have passed a certain number of sections of the Diploma of Financial Planning (or it's equivalent) to gain a Proper Authority (which is an authority to provide advice on behalf of the principle licensee). Each Financial Planning practice will also have it's own standards as to their qualifications and requirements.
You are also required to meet continuing education standards, and so we have quite a few technical training days and workshops for changing legislation, Centrelink rules etc. It is also necessary to be a member of the Financial Planning Association.
What are the best aspects about your job?
I gain a lot of satisfaction in seeing a client start somewhere and then, by undertaking the recommended plan, get to where they want to be, whether it's education planning for their kids, retirement planning, or retirees trying to maximize their income in retirement. We also tend to find ourselves as counsellors more often than not too. A lot of clients ring and talk to us about various aspects of their lives. For example, I had a client ring just last week with what I thought about a certain present he wanted to buy for his wife, whether I thought she'd appreciate it. It's the personal interaction that makes the work enjoyable.
What are the worst aspects?
Unfortunately as we are in an area that has quite a few retirees, we also have a few clients that pass away, which is hard because you get attached to them and get to know them and their families really well. We help the family or the surviving spouse try and cope with their loss and what impacts this will have on their finances. It can be a very sad time.
How many years' experience do you have in this field?
I have been in the finance industry for 12.5 years and have been Financial Planning for over 5 years.
Are there many employment opportunities?
There are a lot of employment opportunities in this field. This is a growing industry. Investments and their associated rules are becoming more and more complex, and people are finding it hard to wade through all the complexities and options out there. That's where we come in to help.
What makes you angry (at work or anytime)?
People being ripped off and taken advantage of.
What are you passionate about?
Being able to be who you want to be, not who other people want you to be.
Your favourite place in the world, and why?
I'd have to say the beach - any surf beach. I grew up near Phillip Island and miss the beach terribly.
What is your idea of the perfect day?
At home, listening to the rain on the roof with a good book and a good glass of red (oh, and of course, my man!).
Can you tell us 5 things required for a happy healthy & enjoyable life (that you believe)
1. Peace in yourself - be happy with who you are - no one else can make you happy, it's something you have to do yourself.
2. Try and eat healthy food - yeah I know it's hard and I don't always stick to it myself, but I always try and eat organic food if I can and try and stay away from pre packaged stuff. It has more energy and is much better for you.
3. Family is soooo important - they might annoy you sometimes but they are always there for you.
4. Friends - you can't live without your friends - friends reflect all the good things about yourself and reinforce all the good things in life.
5. Laugh - I try and laugh as much as possible - it helps you get through the hard times and it's amazing what it can do for others who are down too.
Are there other related careers?
Para planning, Fund Manager, Business Development Manager, Insurance Consultant, owning your own Planning business - the list goes on.

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